Bank Of England Denies Influencing Barclays On Libor

Law360, New York (July 9, 2012, 3:40 PM EDT) -- A top Bank of England official on Monday told a U.K. parliamentary panel that he did not instruct Barclays PLC to lowball a key interest rate during the height of the financial crisis, contradicting earlier testimony from the troubled bank's former chief executive.

Paul Tucker, the deputy governor of the Bank of England, said that an October 2008 conversation he had with former Barclays CEO Robert E. Diamond Jr. centered around the bank's perceived weakness in the market place as financial institutions around the world teetered...